BRICS

About BRICS

Brazil,
Russia, India, China and South Africa (BRICS) are leading emerging economies
and political powers at the regional and international level. The acronym was
originally coined in 2001 to highlight the exceptional role of important
emerging economies and the then acronym included Brazil, Russia, India and
China (BRIC) only. It was pointed out that high growth rates, economic
potential and demographic development were going to put BRIC further in a lead
position and it was argued that their increased relevance should also be
reflected in their incorporation to the G7 (O’Neill 2011). The four countries
themselves started to meet as a group in 2006 and it was only in 2010 that
South Africa was invited to join the group, which was then referred to as BRICS.